The Tai Lopez Show

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“Biology works by trial & error, and then it keeps the best. If you apply that to business, it’s a very powerful heuristic.” - Tai Lopez

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In evolution, the environment selects which genes to push forward.

And in business, the market determines which ideas are successful. Both biology and entrepreneurship rely on something external to tell them what to do. Thus, we can learn how to build a business from examining the principles of biology.

On today’s episode of The Tai Lopez Show, we are discussing why trial and error is the most effective approach to building something great. While developing your product or service inside a locked room might seem like the right thing to do, you must let the environment influence the design. If you don’t, you run the risk of building an idea that people won’t want. So tune in to today’s episode to learn why your $1-million idea only comes from listening to your environment!

You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“People learn the most by osmosis. Just being around other people. There should be more internships, apprenticeships, and shadowing.” - Tai Lopez

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Points to Keep In Mind

  • Shadow mentors in careers or industries that you’re interested in
  • Get out of the city at least once/month
    • Go back to your roots and be amongst nature, animals, and serenity
  • Writing down 3 things you’re thankful for every night has the same effectiveness as anti-depressant medication
  • Understand that you get what you pay for in life
  • Carbohydrates are produced through photosynthesis in plants, grains, etc.
  • Protein costs significantly more than carbs to produce
  • They can now genetically engineer foods to have amino acids people are deficient in
  • Apply biology’s trial & error system to your business
  • Your body has built-in defense mechanisms to prevent disease

 

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The Tai Lopez Show is produced and managed by Kast Media. Learn more at KastMedia.com

Direct download: TLS_4-23-18_-_FINAL_MIX_V2.mp3
Category:general -- posted at: 2:00am PDT

“Go shadow people. A dentist, a doctor, a business person. Go shadow for a day or two and see if you like it before you shell out $47,000 per year.” - Tai Lopez

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Nobody is skeptical of traditional academic institutions.

Yet everyone has an opinion about self-education. The total student loan debt in the United States is now $1.3 trillion, but the attention gets put on the $500 online course that teaches relevant skills like social media marketing or real estate principles.

That’s why on today’s episode of The Tai Lopez Show, we are responding to a comment from Reddit on the validity of self-education. This post accuses those who sell self-education as being scam artists, and by picking apart this argument, we are able to see the value in self-education compared to its alternatives. For a substantially smaller portion of the academic institution’s price, one can receive better and more applicable education. Tune in to today’s episode to learn the value and relevance of what you’re learning on The Tai Lopez Show!

And don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Don’t root against the underdog. The system is what fights progress.” - Tai Lopez

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Points to Keep In Mind

  • It’s important to clarify the things people have mixed-up ideas about
  • Compare self-education to traditional academic institutions to put the money in perspective
  • Uber cut out the middleman to create a decentralized business
  • Shadow people working in the professions you’re interested in before committing your own money to studying them
  • On average, becoming a millionaire takes 12-20 years
  • Understand that nothing is free in this world
  • Be prepared for the upsell academic institutions will try for at the end of your undergraduate degree
Direct download: TLS_4-16-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“The best marketing is to demonstrate. I don’t tell you why you should listen to me. I show you.” - Tai Lopez

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If everybody knew how to do e-commerce, this opportunity wouldn’t exist.

But instead people choose skepticism over knowledge. They hear the words “dropshipping” and “e-commerce” and immediately think “That’s a scam!” Why they do this is for their own personal problems, but the reality of making money online is that it’s the great frontier of 21st century business. For under $100 today, you can start a business that can net you millions in under a year.

On today’s episode of The Tai Lopez Show, we are discussing how to make money online. There are many steps involved: selecting a domain name, purchasing a URL, driving traffic to your site or product through social media advertising. Executing each of these steps is the key to launching a successful business on the Internet. Tune in to today’s discussion to learn how and generate a revenue stream that puts you one step closer to financial freedom!

And don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“It used to cost at least $100,000 to $200,000 to get into business. Today, you can literally start a business for under $100.” - Tai Lopez

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Points to Keep In Mind

  • Think about business ideas from an angle of what you use in the house
  • You want to launch businesses that have competition
    • Example: McDonald’s only has 10% of the fast-food market
  • Choose a simple, memorable domain name
  • Use GoDaddy or Namecheap when purchasing a domain name
  • Look through AliExpress when finding a source for your product
    • AliExpress will do the shipping for you when someone orders your product
  • Use Shopify or ClickFunnels to build an online store on your domain
  • Today, you can literally start a business for under $100
  • When Jeff Bezos started Amazon in 1994, the website cost $100,000
  • Use Facebook ads to target specific demographics of people online
  • The best marketing is demonstration; show, don’t tell
  • To become rich, you must become a master of common sense
  • Understand that huge brands can disappear (ex: Myspace and American Apparel)
  • There’s no change without a change in routine
  • Don’t blame external resources
  • There are 3 reasons people are broke: procrastination, fear, and overanalysis
Direct download: TLS_4-9-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“Most people today drive traffic using Facebook Ads or Instagram. Especially if you have a visual product that looks interesting.” - Dr. Alex Mehr

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Learn powerful skills for FREE here with MentorBox!

Creating a website isn’t enough.

While you listened to the advice that you need an online presence, you haven’t fully captured the message. A website without traffic is like a store without people. But the difference between having a website and owning a store is that you can manually bring in traffic by harnessing the power of online advertising platforms.

On today’s episode of The Tai Lopez Show, we are joined by Dr. Alex Mehr. He is the CEO of MentorBox, an online book subscription service. In the past, he has run online businesses that have done over $1 billion in revenue, like the online dating website Zoosk. Today, we hear his insights on what it takes to launch a successful online business. Tune in to hear his expertise and take your business to new heights!

Learn new skills insanely fast for FREE with MentorBox here!

Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“There’s no change without a change in routine. The only way you hit goals is by changing your ways.” - Tai Lopez

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Points to Keep In Mind

  • Try to start businesses in industries with pre existing competition over completely unknown markets
  • Try not to ask your friends how much money their companies are making
  • You can use 3 word domains for your business URL
  • Research your domain name to make sure you’re not infringing on copyright
  • U.S college debt is currently anywhere from $1.3 billion to $2 billion
  • Use Shopify over ClickFunnels for design purposes
  • Use apps like Recurly, Bold, or Recharge to turn your online business into a subscription model
  • The average person makes a 3% raise every year
  • Create non overlapping ad sets to make sure you’re hitting all demographics
  • Think of Facebook Ads in terms of pizza: campaigns, ad sets, and targeting
  • Consider the pricing structure that labels the product as free but charges for shipping
  • Use Aliexpress to dropship products from overseas
  • Integrate video into your website for better storytelling
  • Understand that people don’t want to stand out; they want to be part of a group

Learn new skills insanely fast with MentorBox here!

Direct download: TLS_4-2-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“There’s 4 different levers you can pull to make money online: website design, creative quality, targeting, and advanced Facebook Ads settings.” - Tai Lopez

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If you give a man a fish, he’ll eat for a day.

If you teach a man a fish, he’ll eat for the rest of his life. We’ve all heard this expression, but have we ever thought how it applies to ourselves? For those of us with entrepreneurial dreams, your level of education might be what’s stopping you from launching that business idea or taking a pre existing business to the next level.

That’s why on today’s episode of The Tai Lopez Show, we are discussing how to go from rags to riches by improving the marketing materials on your website. From the website design to the creative quality of your ads, there are many different avenues for you to monetize on the Internet. In this discussion, we dissect each of these and how targeting all of them will help take your business, whether a full-time job or dropshipping side hustle, to the next level!

And don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Nothing will make your website look less professional than misspellings.” - Tai Lopez

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Points to Keep In Mind

  • Read The Millionaire Next Door to learn how to become a millionaire
  • On average it takes 12-20 years to become a millionaire in the United States
  • Use the K.I.S.S. (Keep It Simple & Stupid) mentality when marketing
  • Don’t use generic photography in your marketing materials
  • Use headlines that clearly state the problem you’re solving
  • Articulate the emotional benefits, not the features
  • Understand that your educational system/upbringing has not equipped you
  • Find mentors, guides, and people to shadow in the industries you want to be in
    • Every success story has mentors: Dr. Dre, Albert Einstein, Mark Zuckerberg, etc.
  • Contrary to popular belief, the social media agency is not saturated
  • When starting a social media marketing agency, evaluate the business’ marketing materials
  • Don’t blame external factors for your lack of success
  • Use .com over .net/.co when choosing a domain name
  • Show comparison charts that visualize why your product is better than the competitors
  • If your product isn’t selling, take it off your website (opportunity cost)
  • Look to Apple’s website design for inspiration
  • There are 4 different levers you can pull to make money online: website design, creative quality, targeting, and advanced Facebook Ads settings
  • It’s better to follow your visitors than force them into something
  • Tell specific stories that clearly articulate the value proposition
  • Use the full names on the testimonials of your product/service
Direct download: TLS_3-26-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“If you get too far behind financially in your life, it’s almost impossible to catch up.” - Tai Lopez

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You can either be right or rich.

So if you’re not rich, then you’re most likely holding onto your opinions too strongly. You’re doing this because you’re afraid of being proved wrong. Well, in educating yourself by listening to others, you learn that you are wrong. And the moment when you accept this is the start to a life of wealth.

On today’s episode of The Tai Lopez Show, we are discussing how to go from rags to riches through self-education. When you pursue profit, the first step is making sure you have your head on straight. What industry are you tackling? What specific niche are you going to carve out? What are you going to do different than the competitors? Tune in today to learn how to approach the path to financial freedom!

And don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“The best investment in life is education.” - Tai Lopez

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Points to Keep In Mind

  • Studies show when you write something down, you absorb it 50% better
  • The definition of insanity is doing the same thing over and over again, but expecting different results
  • The average American saves 2% every year
  • Have an interruption pattern that sends you up, not down
    • Most people need massive pain to have interruption
  • Use visualization techniques to see what you want to do before doing it
  • Attach strong emotion to your goals
  • Real estate is the industry that has made the most millionaires  
  • Use the P.A.S.E. System (Practical, Action, Social, Emotional) to read people’s personality types and adapt accordingly
    • Practical - slow, accountant-types, think before they speak
    • Action - speak aggressively, say what you want, not easily offended
    • Social - those who believe social chit chat is most important
    • Emotional - introverted, not very talkative to strangers
  • Invest in avenues of education that will pay itself off
  • Don’t use generic terms; people need specificity
  • Integrate reviews into your website design
  • Don’t use stock photography on your marketing materials
  • Tell stories on your website and any other marketing messaging
Direct download: TLS_3-19-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“It’s good to convey your authority, but it has to be authority that translates to how you can help the customer.” - Tai Lopez

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Marketing is storytelling.

And the core of storytelling is simplicity. Take Apple for example. If you visit their website, you will find they are driving you to one product. If you visit an Apple store, the directions are simple: browse. At each customer touchpoint of their business, they are delivering a simple message for you to understand and absorb.

On today’s episode of The Tai Lopez Show, we are discussing the ins and outs of the storytelling required to effectively market. From how to design your website to what content you should be posting to your personal social media pages, this discussion has answers to all marketing questions. Tune in to apply these insights, so you can ensure a long and healthy career as a marketer!

Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Go into business in something where a large group of people wake up and say, “You know what’s the problem in my life? This.” - Tai Lopez

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Points to Keep In Mind

  • Scientific studies use babies to remove societal influence/bias from the experiment
  • Don’t use stock photography in your marketing materials
  • Look at the Kardashians for influence on story and relatability
  • People lie, but numbers don’t
  • Use case studies on your website (ex: weight loss before/after photos)
  • Answer the Who/What/Where/When/Why of your business on your website
  • Implement urgency into your product messaging
  • Analyze minutes watched instead of views when interpreting your video content
  • Confucius said: “The man who chases two rabbits catches none.”
  • Follow Jay Samit to learn about internet disruption
  • Position the messaging to answer why the customer should care
Direct download: TLS_3-12-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“To get to the top floor, you go up stairs step-by-step. If you try to jump too many steps ahead, you fall and break your neck. Don’t rush your business growth.” - Tai Lopez

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Being an entrepreneur has its pros and cons.

The same bone that causes you to become an entrepreneur is the thing that will trip you up. You see things in a different way and it bothers you. When you react too passionately to your vision for a better solution, you will try to build your business too quickly and burn it to the ground.

On today’s episode of The Tai Lopez Show, we are discussing the 3 biggest mistakes entrepreneurs make and what they can do instead. It is important to constantly manage your ambition and passion with realistic expectations. Shooting for the stars and missing doesn’t leave you on the clouds; it has you crashing back onto planet earth. Tune in to apply these insights, so you can ensure a long and healthy career as an entrepreneur!

Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Few people are successful without a business partner. One should be behind-the-scenes, and the other should be in the limelight.” - Tai Lopez

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Points to Keep In Mind

  • Treat growing your business like climbing stairs
    • If you try to make your first business a success right away, you will fail
    • Grow your business in stages correctly
  • Don’t believe in: if you shoot for the stars then you’ll hit the moon
    • You will probably just crash
  • Read Working Together by Michael Eisner to understand business partner dynamics
  • Business partners should split introvert/extrovert duties
  • Become a learning machine and you will cut the learning curve by 10 years
  • Learn from other people’s mistakes: books, seminars, conferences, etc.
    • Don’t be the entrepreneur who only learns from his/her mistakes
Direct download: TLS_3-6-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“Checking your credit for your own personal use does not hurt your credit. This is a myth that gets passed around because people don’t understand credit.” - Stephen Liao

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Credit is a highly misunderstood space.

We believe myths like checking our credit score hurts the number. We mistakenly think that there’s a limit to how many credit cards we can take out. When we clear up the confusion, we can see the potential and opportunity this space provides.

That’s why on today’s episode of The Tai Lopez Show, we have brought on Stephen Liao to teach us how to sift through the world of credit cards. Stephen dropped out of Stanford to figure out the credit card game just a year ago, and today he has a credit-limit that exceeds $3 million spread across 220 different credit cards. If he’s not flying first-class, he’s on a private jet. And if he’s not staying at the Waldorf Astoria, he’s at the Ritz-Carlton. Tune in today to learn his secrets on building a good credit score and scoring free perks!

Don’t forget, you can listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Only spend what you have. If you only spend what you have, you never go into debt.” - Stephen Liao

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Points to Keep In Mind

  • Use Credit Karma to check credit
  • Try to keep your credit card utilization under 9%
  • Only spend what you have
    • If you only spend what you have, you never go into debt
  • Hard inquiries hurt your credit score and soft inquiries don’t
  • If you need to file a dispute, do it at CFPB.gov
    • They have to respond to you within 14 days
    • They will remove hard inquiries 9 out of 10 times
  • Age of credit history factors in: oldest account and average age
    • You can’t help your age of credit history
    • Try to have an age of credit history over 9 years
  • Try to have at least 21 lines of credit being reported
  • Checking your credit for your own personal use does not hurt your credit
  • Correlation does not imply causation when opening new credit cards
  • Combine hard inquiries by applying for multiple credit cards from a bank on the same day
  • Humanize yourself when talking on the phone with the banks
    • This helps the teller see you as a person, not just a number
  • There is no direct way to remove hard inquiries
Direct download: TLS_3-5-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT

“Knowledge isn’t power. It’s applied knowledge. Wealthy people know the theory and the applied.” - Tai Lopez

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Plateaus are part of the process.

If your business is stagnant, it’s not your fault. But not doing anything about it, that is something you can blame yourself for. Provoking growth inside your business or personal brand requires creativity. And at the core of creativity, is a deeper well of knowledge to draw from.

That’s why on today’s episode of The Tai Lopez Show, we are taking a moment to recap some of this week’s highlights. From understanding the college decision with Patrick Bet-David to learning how to break your customer’s false beliefs, the unprecedented level of knowledge-dropping today will have you thinking twice before your next business move. Tune to harness your personal and professional power and take it to the next level.

Don’t forget! You can also listen to The Tai Lopez Show on Spotify! Click “Follow” and let me know what you think!

“Our job as marketers is to break people’s false beliefs. How you do this is by telling personal stories of when you had that same false belief be broken.” - Russell Brunson

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Points to Keep In Mind

  • Attack people’s false beliefs when marketing products
  • There are very few things you get worse at the more you do them
  • To be able to sell to the masses, you have to understand people’s false beliefs
  • The three false beliefs people have are about:
    • 1) their need for the product
    • 2) their internal ability to use the product
    • 3) how external factors will influence their use of the product
  • Tell stories of you shattering those same false beliefs
  • Seeing others’ struggles exposes the illusion of your own suffering
  • Recreation is overrated
  • Try to embed ‘edutainment’ inside your content
  • There is a component of education and another of entertainment
  • There is a lot of money inside content that is both funny and educational
  • Knowledge is useless unless you learn how to apply it
  • Treat your approach to becoming wealthy as engineering an airplane
  • Reprogram your mindset to be more efficient
  • Bill Gates says he will always choose the lazy person to do the job because that person knows how to do it the quicker way
  • Reprogram your mindset to be more efficient
  • Don’t go to a 4-year college; instead, take the classes that apply to your career
  • Studies show people learn 30% better online than in-person
  • The more you learn, the more you earn
  • Watch Milton Friedman and Phil Donahue interviews to learn fundamentals of capitalism
  • Get specific on your target audience
Direct download: TLS_3-4-18_-_FINAL_MIX.mp3
Category:general -- posted at: 2:00am PDT